J.P. MORGAN CHASE BANK-2016 - Laserfiche WebLink

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Terms and Conditions • The U.S. One Card program will be established on the MasterCard platform. • Should your organization qualify to earn a rebate payment during a contract year, the minimum Gross Rebate payable will be $50. If your organization does not qualify for a rebate (e.g., does not meet the Settlement Terms), your organization will not receive the minimum Gross Rebate of $50. • Credit Losses and any Rewards Redemption Expenses exceeding the redemption pool will be deducted from the Gross Rebate. In cases where Gross Rebate is insufficient to cover these deductions, your organization will be invoiced for the difference. o For example, if the actual Gross Rebate is $45, and the net Credit Loss is $55, then the Gross Rebate will increase to $50, offset by the $55 Credit Loss, so making the net rebate ( -$5). • Fraud Losses will not be deducted from rebate. • To qualify for rebates at the time that the rebate is to be paid, your organization must meet certain criteria described in the Definitive Agreement, which include the following: o meet Settlement Terms, and o not be in default under the contract. • Rebates will be calculated annually in arrears for the previous contract year based on the signing date and paid within 90 days following the end of the contract year via wire transfer to an account designated by your organization. • Settlement of any centrally billed account must be made by automatic debit. Payments not received by J.P. Morgan in accordance with the Settlement Terms shall be subject to a finance charge. • In the event that the association lowers its interchange rates, J.P. Morgan reserves the right to adjust rebates accordingly. • All clients are subject to prior credit approval before a firm commitment will be issued from J.P. Morgan. J YMUT'g'clll